Financial Calculators
Refinance Calculator
Enter your current loan details and a new rate to instantly see monthly savings, break-even date, and total lifetime savings from refinancing.
Current Loan
≈ 25.0 years remaining
New Loan (Refinance)
Monthly Savings
$231
per month after refinancing
Current Payment
$1,910
New Payment
$1,679
Break-Even
18 mo
Sep 2027
Total Savings
$0
over loan life
When does refinancing make sense?
Refinancing is generally worth it when: (1) the new rate is at least 0.5–1% lower, (2) you plan to stay in the home past the break-even point, and (3) closing costs are reasonable relative to monthly savings.
What is the break-even point?
The break-even point is the number of months it takes for your monthly savings to cover the closing costs. If you plan to keep the loan longer than the break-even period, refinancing likely saves you money overall.
What are typical closing costs?
Refinance closing costs typically run 2–5% of the loan balance — covering appraisal, title search, origination fees, and more. Enter the exact amount your lender quotes for the most accurate break-even calculation.